Hungary’s rebate scheme raised from 25% to 30%
The European Commission has approved the increase of Hungary’s tax incentive to 30%. The tax incentive is available for film productions shooting in Hungary. The scheme has also been extended until the end of 2024.
Initiated by the Hungarian National Film Fund, the main purpose of the increase is to preserve Hungary’s leading position and competitiveness in the European film industry. The Hungarian film support scheme provides significant contribution to the development of the Hungarian film industry and to the country’s GDP.
It’s a true testament to Hungary’s popularity on the international market that despite being in proximity to some of the world’s biggest production hubs, it still manages to attract a steady flow of high-end projects. Red Sparrow, Atomic Blonde and The Martian are just some of the many feature films to have made use of Hungary in recent years but arguably none are as prolific as Denis Villeneuve’s Blade Runner 2049 (pictured above).
According to the European Audiovisual Observatory’s 2015 report, film production in Hungary accounted for 0.15 percent of gross domestic product — one of the highest proportions in Europe. The volume of film production spending reached $400m in Hungary in 2017.
“In addition to the tax incentive Hungary’s film industry has highly educated and experienced film crews, a variety of exciting and new film locations and state-of-the-art sound stages. Budapest is the most popular location to shoot films in continental Europe. With the increased tax incentive we aim to strengthen the Hungarian film industry and to preserve our leading position in the international market.” – said Andy Vajna, film commissioner.
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